Looking at the GBPAUD pair, we can observe a sharp decline in GBP during today's session, supported by a strong AUD and weaker GBP. However, our stance remains unchanged; we anticipate GBP strengthening in the next few sessions. Consequently, we've entered a long position at 1.93800. Our stop loss is set at around 1.93300, representing a loss of 50 pips or 0.3%, while our target is 1.96600, indicating a potential gain of 260 pips or 1.3%. On the 4th and 5th of March, the price printed a higher high, signaling a robust upward trend and breaking the previous resistance from the 13th of February.
It is important to note that this analysis is based on historical patterns and technical indicators and should not be construed as financial advice. Individual traders should conduct their own research and consider their risk tolerance before making any trading decisions.
It is important to note that this analysis is based on historical patterns and technical indicators and should not be construed as financial advice. Individual traders should conduct their own research and consider their risk tolerance before making any trading decisions.
Trade closed: stop reached:
The trade was stopped with -0.3%.